Wallace stated: “The Ron Paul people are not going to like my saying this. But to a certain degree, it will discredit the Iowa caucuses because, rightly or wrongly, I think most of the Republican establishment thinks he’s not going to end up as the nominee.”

“So therefore, Iowa won’t count. It would certainly be a knock to Gingrich because, you know, right now he was the frontrunner, or a week ago he was the big frontrunner in this state so it would be missed opportunity for him."